Transfer of Equity
Transfer of Equity is when the property is transferred from a sole name into joint names or vice versa. Often this is being done due to an emotional reason, such as divorce.
Therefore you will want the process to go as smoothly as possible. MCP Solicitors' Property lawyers have the experience and understanding to make this happen.
Why would I transfer the equity?
Transfer of Equity is often carried out as part of family proceedings such as divorce or separation. Our Property and Family lawyers work closely together in this area.
What should I consider?
If you have a mortgage and want to keep the same lender, you should contact them and advise them of what you are proposing. They will be able to advise you of their requirements.
If you are going to remortgage at the same time, your existing lender need not be involved, except for your solicitor repaying the amount outstanding on completion.
If you are transferring the property from sole ownership into joint names, you need to consider the ways in which you can hold the property. For more information please see our pages on Buying Together.
If you need help transferring a property, please contact our Property team.